GBP/USD bias held neutral on August 1, 2026
The US dollar is selling off broadly following weak US growth data and suspected intervention in USDJPY, which is lending some support to GBPUSD. However, the British pound is underperforming as traders dial back expectations for further Bank of England rate hikes after a dovish hold. The conflicting pressures leave GBPUSD driven by relative monetary policy expectations and broader dollar sentiment.
Updated
The reading that day
NeutralAt the close of the UTC day.
BearishNeutralBullish
It held all day.
The day on the wire
00:0006:0012:0018:0024:00
The band shows the reading through the day; a mark shows where it changed. Each tick is a headline first seen that day.
The reading through the day
- 00:00Neutral
Headlines (13)
First seen on August 1
- CFTC Report: Bearish FX extremes deepen as cross-asset signals divergeFXStreet
- The Bank of England Is Moving Away From CoalOilPrice.com
Carried over from earlier days
- Bank of England holds interest rates at 3.75% as inflation fears mountThe Guardian
- Minutes of the Meeting of the Court of Directors held on 4 June 2026bankofengland.co.uk
- US-Iran war looms over Britain’s economypolitico.eu
- BoE holds rates at 3.75% as it waits to see impact of Iran warFinancial Times
- Forex Today: US Dollar extends sell-off after weak US growth, Yen surges on suspected interventionFXStreet
- US Dollar Index Price Forecast: Exposes to 99.00 on Double Top breakdownFXStreet
- Bank of England: Dovish hold shapes Pound outlook – UOBFXStreet
- The FX Trader: USD kicks off bear move as USDJPY intervention weighs.home.saxo
- British Pound: Limited support from BoE policy – CommerzbankFXStreet
- British Pound underperforms as traders reconsider BoE interest rate hike betsFXStreet
- BIS Project Agorá settles $1 million in tokenized cross-border payment trialsCointelegraph
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Monday, August 3 | ||
| Final Manufacturing PMI | 52.8 | GBP |
| Final Manufacturing PMI | 53.8 | USD |
| ISM Manufacturing PMI | 54.0 | USD |
| Construction Spending m/m | 0.2% | USD |
| ISM Manufacturing Prices | 70.0 | USD |
| Loan Officer Survey | USD | |
| Omdia Total Vehicle Sales | 16.3M | USD |
| Tuesday, August 4 | ||
| Trade Balance | -73.0B | USD |